Shareholders' Equity

12 Months Ended

Dec. 31, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

Note 6: Shareholders' Equity

In 1997, an incentive stock option plan was adopted for our employees. This plan expired on November 7, 2007. Accordingly, no shares are available for the grant of options under that plan. In 1998 and 2005, stock option plans for our employees, officers and directors were adopted. The 1998 plan expired on November 27, 2008. Accordingly no shares are available for the grant of options under that plan.

At the Annual Shareholders' Meeting in May 2011, shareholders approved an amendment to the 2005 Plan to increase the number of shares issuable under the plan from 1,500,000 shares to a total of 3,000,000 shares. Options granted before May 2011 are granted at not less than current market price of the stock on the date of grant and are exercisable from five to ten years from the grant date. Options granted after May 2011, pursuant to the plan amendment in May, are required to be granted at not less than the higher of (1) 120% of current market price on the date of grant or (2) the average of market price over the prior 30 trading days. Further, pursuant to the amendment the number of options granted to an executive officer or director cannot exceed 200,000, except to the extent such limit had already been exceeded at the time of the amendment. All options granted through 2006 were vested on the date of grant. The options granted in 2011 and 2010 are vested each month over a four-year period or upon a change in control.

	1997 Plan					1998 Plan					2005 Plan
	Number of Shares			Average Option Price Per Share		Number of Shares			Average Option Price Per Share		Number of Shares			Average Option Price Per Share
Maximum number of shares under the plans		300,000					1,100,000					3,000,000
Outstanding, December 31, 2009		254,500		$	0.81		680,500		$	0.74		984,650		$	0.43
Granted in 2010		—			—		—			—		909,500			0.23
Exercised		—			—		—			—		(3,500	)		0.17
Cancelled/Expired		(14,000	)		0.65		(383,600	)		0.77		(494,500	)		0.58
Outstanding, December 31, 2010		240,500		$	0.82		296,900		$	0.71		1,396,150		$	0.25
Granted in 2011		—			—		—			—		30,000			0.37
Exercised		—			—		—			—		(8,500	)		0.21
Cancelled/Expired		—			—		—			—		—			—
Outstanding, December 31, 2011		240,500		$	0.82		296,900		$	0.71		1,417,650			0.25
Available for issuance, December 31, 2011		None					None					1,032,950	(a)

(a) Options available under the 2005 plan are limited by the amount of options outstanding under the 1997 and 1998 Plans. As the options outstanding under the earlier plans expire, the number of shares available for issuance under the 2005 Plan will increase accordingly.

A summary of additional information related to the options outstanding as of December 31, 2011 is as follows:

	Options Outstanding and Exercisable
	Weighted Average
Range of Exercise Prices	Number Outstanding		Remaining Contractual Life		Exercise Price
$ 0.17 — $ 0.90		1,955,050		2.26 years	$	0.39
Total		1,955,050		2.26 years	$	0.39

We have an Employee Stock Ownership Plan ("Plan") to provide retirement benefits for our employees. The Plan is designed to invest primarily in our common stock and is non-contributory on the part of our employees. Contributions to the Plan are discretionary as determined by our Board of Directors. We expense the cost of contributions to the Plan which amounted to $24,000 (100,000 shares) in 2010. No contributions were made to the Plan in 2011.